Glass Wealth Management Co LLC Sells 3,515 Shares of Newmont Co. (NYSE:NEM)

Glass Wealth Management Co LLC cut its position in Newmont Co. (NYSE:NEM) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,722 shares of the basic materials company’s stock after selling 3,515 shares during the quarter. Newmont accounts for about 1.8% of Glass Wealth Management Co LLC’s holdings, making the stock its 18th biggest holding. Glass Wealth Management Co LLC’s holdings in Newmont were worth $3,339,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NEM. Northeast Investment Management bought a new position in Newmont in the third quarter valued at about $214,000. Intact Investment Management Inc. bought a new position in Newmont in the third quarter valued at about $75,000. National Pension Service increased its stake in shares of Newmont by 27.9% in the third quarter. National Pension Service now owns 2,533,077 shares of the basic materials company’s stock valued at $135,393,000 after buying an additional 552,698 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Newmont by 1.7% in the third quarter. Asset Management One Co. Ltd. now owns 538,480 shares of the basic materials company’s stock valued at $28,782,000 after buying an additional 8,833 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of Newmont by 3.5% in the third quarter. QRG Capital Management Inc. now owns 21,005 shares of the basic materials company’s stock valued at $1,123,000 after buying an additional 706 shares during the period. 68.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NEM has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on Newmont in a research note on Monday, January 13th. They issued a “buy” rating and a $47.20 price target for the company. Raymond James decreased their price target on Newmont from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Royal Bank of Canada increased their price target on Newmont from $47.00 to $52.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. StockNews.com raised Newmont from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, CLSA assumed coverage on Newmont in a research note on Friday, November 29th. They issued an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average price target of $53.16.

Insider Activity

In other news, COO Natascha Viljoen sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $40.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 145,967 shares in the company, valued at $5,838,680. This trade represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $42.89, for a total value of $128,670.00. Following the completion of the transaction, the executive vice president now owns 79,596 shares in the company, valued at $3,413,872.44. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,154 shares of company stock worth $1,166,843 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Newmont Stock Up 0.3 %

Shares of NYSE:NEM opened at $42.51 on Wednesday. The business’s 50 day simple moving average is $42.18 and its two-hundred day simple moving average is $46.15. The firm has a market cap of $47.90 billion, a P/E ratio of 14.51, a PEG ratio of 0.41 and a beta of 0.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. Newmont Co. has a 52-week low of $33.22 and a 52-week high of $58.72.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.29. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.32 billion. Newmont had a return on equity of 13.52% and a net margin of 17.92%. As a group, research analysts forecast that Newmont Co. will post 3.45 EPS for the current fiscal year.

Newmont Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Tuesday, March 4th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.35%. Newmont’s dividend payout ratio is presently 34.13%.

Newmont Company Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.